Aer Lingus pension fund may be used to block Ryanair bid
Union representatives at Aer Lingus are reportedly calling for the staff pension fund to be used to buy up shares in the airline.
Reports this morning say the move is being suggested as part of efforts to block Ryanair from securing a controlling stake in the national carrier.
Union officials reportedly want to acquire up to 6% of shares, which would make it a lot more difficult for the no-frills airline to succeed in its hostile takeover bid.
Earlier this week, a body representing Aer Lingus pilots spent €30m buying up just over 2% of shares adding a further 0.18% this morning.
The Government also has a 28% stake, while the Employee Share Ownership Trust has 12%.
